GDP Can Be Computed as the Sum of

question 266

Multiple Choice

GDP can be computed as the sum of

• A) all sales that have taken place in an economy over a period of time.
• B) the total expenditures of consumers and business over a period of time.
• C) the total expenditures of consumption, investment, and government expenditure on goods and services over a period of time.
• D) the total expenditures of consumption, investment, government expenditure on goods and services, and net exports over a period of time.

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Definitions:

Trade Surplus

A situation in which a country's exports exceed its imports.

Exports

Goods or services sent from one country to another for sale or trade.

Imports

goods or services brought into one country from another for sale, often influencing the domestic market's supply and price levels.

Trade Surplus

This occurs when a country's exports exceed its imports, indicating a positive balance of trade.